KNOW ALL MEN BY THESE PRESENTS that ________________________ of ______________________________________ hereby binds and obligates himself/herself and his/her executors, administrators, Designees, heirs, successors and assigns to the Town of North Andover, a Massachusetts municipal corporation, in the sum of ________________________ Dollars, and has secured this obligation by the deposit with the Treasurer of said Town of North Andover of said sum of money or negotiable securities.

The condition of this obligation is that if the undersigned or his/her its executors, administrators, Designees, heirs, successors and assigns shall fully and satisfactorily observe and perform in the manner and in the time therein specified, all of the covenants, conditions, agreements, terms and provisions contained in the following:

1. Application for Approval of Definitive Plan (Form C) signed by the Principal and dated ________________________;

2. The Rules and Regulations Governing this Subdivision of Land in the Town of North Andover adopted by the Planning Board; and

3.The Definitive Plan as defined by the above Rules and Regulations and as qualified by the Certificate of Approval (Form H) issued by the Planning Board dated ________________________ ; then this obligation shall be void; otherwise, it shall remain in full force and effect, and that portion of the aforesaid security required to complete the Principal's obligation under this agreement shall become the sole property of said Town of North Andover as liquidated damage.

IN WITNESS WHEREOF the undersigned has hereunto set his/her hand and seal this ___________day of _________________________, 19____.